A panel of urban development leaders in met on Monday with a focus on downtown’s tallest office building – the HSBC Tower – and what direction to take the building in the future.
Approximately 40 members of the Urban Land Institute, with members all over the country, have come to Buffalo to spend a few days visiting the 38-story, 851-thousand-square-foot tower to come up with a solution and use for the downtown icon.
Several interviews and tours will take place February 26 and 27. In addition, there will be several closed door meetings to discuss strategy and options.On Thursday morning, there will be a news conference to present the group’s proposal.
As you may recall, the Canadian Consulate, the Philips Lytle Law Firm as well as the HSBC are the building’s largest tenants. These three tenants occupy approximately 90% of the building. By the end of 2013, all three of these tenants will either be in the process of moving, or already out of the building.
It has been reported that the investment group based in New York City that owns the buildings, Seneca One Realty, is actually considering some options such as a mixed-use scenario that may include condos and apartments. The space is also being considered for hotel and office space.